How to buy Real Estate Subject to the existing mortgage

Name: How to buy Real Estate Subject to the existing mortgage
Rating: 4.7 (179 reviews)

Buy real estate with no credit check or down payment!

Created byBen Zimmerman

Last updated 3/2023

English

What you'll learn

Learn how to buy houses without needing any cash or approval from a bank
How to buy houses without needing a credit score
How to take title of a house, without applying for a loan
What to do with these properties once you have purchased them
How to resell the properties using owner financing to create a truly passive income stream for the next 30 years.

Course content

1 section • 19 lectures • 4h 18m total length

Intro to subject to financing6:48
How a traditional real estate transaction works7:03
In this module, we will explore how a traditional real estate transaction works.
How a sub2 transaction works9:49
Why should you learn to do sub2 deals19:31
Purchasing a home subject to the existing financing offers many benefits. From eliminating the hassle and requirements of dealing with a bank, being able to close on a property immediately, not needing to come up with a huge down payment, to being able to simply offer more money to sellers than any other investor while still turning a massive profit.
Why should sellers choose us instead of the competition15:00
There are two primary reasons that we are able to beat the majority of offers from other investors. We are able to close immediately and/or offer a higher purchase price. Watch this video to find out more
What kind of houses do I target?7:15
Some types of houses make for a better investment property than others. In this video, we will explore the logic behind why I typically attempt to purchase average, or slightly below average homes. NOTE: This does NOT mean buying properties in the ghetto or other undesireable locations.
Where do I find motivated sellers?5:21
Finding motivated sellers is the lifeblood of your business. There are many potential avenues that you can take that will lead you to potential clients, but it is important to find marketing strategies that work well for YOU. Here we will explore several techniques including public records and leveraging relationships with certain professionals, how to turn yourself into a walking billboard so that everyone knows that you buy homes, online advertising, as well as how other investors themselves can be your best sources of leads.
Find leads with public records18:12
Public records either online or at your local county courthouse can provide a wealth of information of people who may need to sell their home. Find out how you can use these sources to obtain pre foreclosure lists or probate leads
Become a walking billboard for your business18:00
Ever see someone on the street corner twirling a sign advertising a local business? While that may seem silly, the truth is it works. While you don't need to dress up in a silly costume or carry a big sign to twirl, you can easily transform yourself into a walking, talking billboard while also maintaining your dignity.
Marketing online5:53
What is online marketing and how can you take advantage of it.
Wholesalers are your best friends10:01
Wholesalers already put in a ton of effort to find and contact motivated sellers. Unfortunately for them they need to find a seller that is also willing to accept a ridiculously low purchase offer in order for the wholesaler to be able to make the deal work for them. By maintaining a healthy relationship with your local wholesalers, you can turn their failed leads into successful sales.
Initial phone conversation9:40
Explore the purpose of the initial contact with the seller over the phone
What documents need to be signed7:26
A brief listing of what documents need to be signed during the transaction.

**PLEASE NOTE: Updated 2/16/2023. These sample contracts and agreements are for educational purposes ONLY. State laws concerning real estate transactions vary from location to location and a contract that may be suitable for use in one geographic location, may be missing key verbiage required in a different location. Please consult a professionally licensed attorney in your area prior to using these templates. Neither myself, nor Udemy is responsible for any potential adverse consequences of attempting to use these templates before being certified by your lawyer.
Initial Appointment13:54
Some simple do's / don'ts during the initial appointment.
Selling using owner financing15:49
Purchasing a home subject to the original financing is a way to acquire properties, but what do you do with it once you own a property? While you can turn it into a rental, it is often very easy to turn around and sell the property using owner financing under better loan terms, thereby creating a gap where the money coming in every month, is greater than the amount you pay creating a lifelong stream of passive income.
Handling Insurance6:53
Insurance is often the #1 reason that banks enforce the due on sale clause. Here we will talk about the basics of how insurance paperwork needs to be set up in order to prevent this from happening to you.
Due on sale clause17:51
The due on sale clause is a statement in the loan agreement that the seller originally signed with their bank stating that if they ever sell the home, the bank has the option to demand repayment of the loan in full immediately. Find out the truth about this clause and ways to avoid the bank calling the note due.
Calculating the profit44:04
Calculating the profit, scenario #220:06
See how you are able to pay full market price for a property and still turn a quarter million dollar profit by selling the property using owner financing.

Requirements

Students should come with an open mind and the desire to learn a new way of purchasing real estate
No background in Real Estate is necessary, we will break down each component individually.
The hustle and motivation required to take action and implement these techniques.
"Implementation of thoughts is attained by few and so is success" -Shivangi Lavaniya

Description

Throughout history, real estate has made more people wealthy than any other asset class. You have been doing your research and would love to invest in real estate yourself, but you aren't sure if it's even possible given your current financial situation. Real estate typically has a very high barrier of entry imposed by the banks. You first need to have a ridiculously high down payment (which is often more money than your average American will ever have), your credit score needs to be stellar, and then you have to jump through many hoops and provide countless documents to the bank in an effort to 'prove' that you are worthy enough to be given a loan. This process is simply too much for most people, but thankfully there is a better way to purchase real estate!

What if I told you that it was possible to buy real estate without ever needing to talk to a bank and never obtaining a loan? What if I said your credit score didn't matter? If I told you that after watching these lessons, you would be able to go out and look for motivated sellers and potentially start closing on deals the very next day? If that sounds too good to be true, then keep reading.

Instead of going to the bank and obtaining your own loan, why not simply purchase real estate by offering to continue to make payments on the sellers behalf to the loan that THEY already have with their bank? By simply making payments on the existing loan on the sellers behalf, you are able to close on deals instantly, without the need for a credit check, inspection, appraisal, or any of the other items typically associated with purchasing real estate. The only thing stopping you from closing on deals now, is finding motivated clients needing a quick and easy way to sell their home.

Maybe your client is in pre foreclosure, maybe they inherited the property and don't want it, or maybe they just don't have enough equity to make selling the home the traditional way feasible after paying the closing costs. In all of these situations, you are able to solve their problems, while also obtaining a property for yourself for little or no money out of pocket.

Once you own the property you can do whatever you want with it. So whether you are trying to turn it into a rental, fix/flip, or resell it using owner financing, the options are limitless and so is the amount of income that this technique can generate. The only thing stopping you from realizing financial independence now, is getting out and doing a little hustling to find your sellers.

Who this course is for:

Aspiring Real Estate investors
Seasoned investors looking to expand their portfolio
Investors interested in learning new techniques to close deals that were previously not profitable